Basic Cost Increase Adjustment Clause Samples

The Basic Cost Increase Adjustment clause allows for the modification of contract prices in response to increases in the costs of specified materials, labor, or other inputs. Typically, this clause outlines the conditions under which a price adjustment can be requested, such as when costs rise beyond a certain threshold, and may require documentation or proof of the increased expenses. Its core function is to protect parties from unforeseen cost escalations during the contract term, ensuring that the contract remains fair and viable even if market conditions change.
Basic Cost Increase Adjustment. The Base Rental payable hereunder shall be adjusted from time to time in accordance with the following provisions: (a) The Building contains 324,668 square feet of Net Rentable Area in aggregate. Tenant's Base Rental is based, in part, upon the estimate that annual Basic Costs will be equal to $7.75 per square foot of Net Rentable Area in the Building (such estimate being hereinafter referred to as the "Expense Stop"). Tenant shall, when Landlord so requires during the term of this lease, pay as an adjustment to Base Rental hereunder, regardless of rental abatement, an amount (per each square foot of Net Rentable Area within the Premises, including those portions of Common Areas allocated to the Premises from time to time) equal to the excess ("Excess") from time to time of actual Basic Costs per square foot of Net Rentable Area in the Building over the amount of the Expense Stop. Landlord may collect such additional Base Rental in arrears. Landlord shall also have the option to make a good faith estimate of the Excess for each upcoming calendar year and may require the monthly payment of Base Rental adjusted in accordance with such estimate. Any amounts paid based on such an estimate shall be subject to adjustments pursuant to Paragraph 1(b) of this Exhibit "D" when actual Basic Costs are available for each calendar year. (b) Tenant at its' expense shall have the right no more frequently than once per calendar year, following prior written notice to Landlord, to audit through an independent certified public accountant reasonably acceptable to Landlord, at Tenant's sole expense, Landlord's books and records relating to Basic Costs during the year preceding such audit. In the event such an audit demonstrates additional Base Rental collected for such preceding year to be higher or lower than the amount of additional rental paid pursuant to 1(a) above, then Landlord shall refund any overpayment or Tenant shall pay any deficiency within ten (10) days of such determination. --------------------- (1) Notwithstanding the foregoing, the amount of any excess payable by Tenant relating to Basic Costs other than property taxes and assessments and utility costs shall not in any event increase by greater than six percent (6%) per year.
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Basic Cost Increase Adjustment. The Base Rental payable hereunder shall be adjusted upward (but not downward) from time to time in accordance with the following provisions: (a) The Building contains approximately 321,500 square feet of Net Rentable Area in aggregate. Tenant's Base Rental is based, in part, upon the estimate that during each calendar year of the Lease Term, Basic Costs will be equal to the actual Basic Costs for the calendar year 1993 (such estimate on a square foot of Net Rentable Area in the Building basis being hereafter referred to as the "Expense Stop"). Tenant shall, when Landlord so requires, during the Lease Term pay as an adjustment to Base Rental hereunder an amount (per each square foot of Net Rentable Area of the Premises, including those portions of Common Areas allocated to the Premises from time to time) equal to the excess ("Excess") from time to time of actual Basic Costs per square foot of Net Rentable Area in the Building over the amount of the Expense Stop. Landlord may collect such additional Base Rental in arrears on a yearly basis. Landlord shall also have the option to make a good faith estimate of the Excess for each upcoming calendar year and upon thirty (30) days' written notice to Tenant may adjust the monthly
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Basic Cost Increase Adjustment. Intentionally omitted.
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Basic Cost Increase Adjustment. Beginning October 1, 2010, Lessee’s Basic Costs referred to in Paragraph 6(a) of the Original Lease shall be equal to the 2010 actual costs instead of the 2008 actual costs and Lessee’s Net Rentable Area referred to in Paragraph 6(a) of the Original Lease shall be amended from 2,517 square feet to 6,769 square feet.
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Related to Basic Cost Increase Adjustment

  • Cost Adjustments Both parties agree that contracted prices shall be fixed for the first 12 months of this Contract. Contractor must submit to District any proposed cost adjustments at least 60 days before the proposed effective date of such increases with a detailed explanation for each adjustment. District alone reserves the right to reject any changes to this Contract it deems unacceptable.

  • Minimum Adjustment The adjustments required by the preceding sections of this Article IV shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that no adjustment of the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants that would otherwise be required shall be made unless and until such adjustment either by itself or with other adjustments not previously made increases or decreases by at least 1% the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants immediately prior to the making of such adjustment. Any adjustment representing a change of less than such minimum amount shall be carried forward and made as soon as such adjustment, together with other adjustments required by this Article IV and not previously made, would result in a minimum adjustment. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of its occurrence. In computing adjustments under this Article IV, fractional interests in Common Stock shall be taken into account to the nearest one-hundredth of a share.

  • Step Increases (a) The following is the method used to determine service credit, since the last date of hire, for purposes of positioning on the salary range: i) all continuous service shall be retained and transferred with the employee if she/he changes her/his status from full-time to part- time and vice versa. ii) a part-time employee who changes status to full-time will be given credit on the basis of fifteen hundred (1500) paid hours of part- time being equivalent to one (1) year of full-time service and vice versa. iii) in addition, an employee who is so transferred will be given credit for paid hours accumulated since the date of last advancement. (b) Annual increments for full-time employees shall be paid on their anniversary date. (c) Annual increments for part-time employees shall be paid on the completion of each fifteen hundred (1500) hours worked.

  • RENTAL ADJUSTMENT Landlord and Tenant acknowledge that the Leased Premises were conveyed by Tenant to Landlord pursuant to that certain Agreement of Sale and Purchase dated November 17, 2005 (the “Leased Premises Purchase Agreement”), and, as a condition to closing thereunder, leased back to Tenant pursuant to this Lease. Concurrently with the Leased Premises Purchase Agreement, EPT Crotched Mountain and SNH entered into that certain Agreement of Sale and Purchase (the “Crotched Mountain Agreement”), pursuant to which EPT Crotched Mountain agreed, among other things, as follows: (i) SNH would use its best efforts to obtain various consents from third parties for an assignment of the ground lease therein described from SNH to EPT Crotched Mountain (the “Required Consents”) and (ii) if SNH failed to obtain the Required Consents within 90 days from the closing of the Mad River Mountain Agreement then (a) EPT Crotched Mountain would make a loan to SNH in the amount of the purchase price as set forth in the Crotched Mountain Agreement and (b) the rent payable by Tenant under this Lease would automatically be increased retroactively as hereinafter set forth and described. Landlord and Tenant hereby agree that in the event the Required Consents are not obtained as set forth above, then effective retroactively as of the Commencement Date, “Annual Fixed Rent” shall be equal to the following: (i) From the Commencement Date to the end of the 1st Lease Year, an amount, per annum, equal to $1,017,500.00. (ii) During each subsequent Lease Year the Annual Fixed Rent shall increase by an amount equal to the lesser of (a) 1.5% multiplied by the Annual Fixed Rent for the previous Lease Year or (b) the percentage increase in the CPI between the CPI in effect during the first month of the Lease Year immediately preceding the then applicable Lease Year and the first month of the then applicable Lease Year. In the event the Required Consents are not obtained prior to the closing of the Crotched Mountain Agreement, then the Annual Fixed Rent, as adjusted by this Section, shall apply retroactively as of the Commencement Date, and shall be effective without further action on the part of either Landlord or Tenant. Notwithstanding the preceding sentence, if the Required Consents are not obtained prior to the closing of the Crotched Mountain Agreement, then, at the closing of the Crotched Mountain Agreement, and upon Landlord’s request, then Tenant shall, at the closing of the Leased Premises Purchase Agreement, execute and deliver to Landlord a written certificate in form satisfactory to Landlord specifying that the Annual Fixed Rent has been adjusted pursuant to the terms of this Section. Upon the rental adjustment as herein provided, Tenant shall promptly pay to Landlord an amount equal to the difference between all Annual Fixed Rent paid up until the Rental Adjustment Date and the amount of fixed rent payable from the Commencement Date to the Rental Adjustment Date, as adjusted by this Section.

  • Fee Increases S&P reserves the right to increase its fees under this Order Schedule effective on the anniversary of the Commencement Date by providing at least sixty (60) days advance written notice to Licensee prior to the expiration of the Term then in effect.